Then, you can follow the instructions. halving event On April 19, Bitcoin’s price displayed an erratic performance. BTC gained almost 10% initially to reach a high of $67,020 by April 24. However, in the last two days, the digital asset’s price has declined by 6.49%The price of the car is below $63,000.
This negative performance is not surprising. It has attracted the attention of investors and traders. Rekt capital, a renowned analyst at X with X handle Rekt has offered a hypothesis on Bitcoin’s fall in price and possibly an insight as to the future movements of this crypto market leader.
BTC Prices to Drop in the Future?
It is a good idea to get in touch. X post Rekt Capital announced on April 26 that Bitcoin is now in the Post-Halving Period. “Danger Zone.” This phenomenon was described by the analyst as a time period when Bitcoin’s price has experienced a correction after its halving. Rekt Capital stated that Bitcoin’s price had retraced in the 3 weeks following the Halving. The token price fell by 11 percent during this period.
Analysts postulate that Bitcoin has now entered the Post-Halving phase “Danger Zone” The current bull cycle is a result of its recent price drop. If Bitcoin’s price moves in the same direction as previous phases, it could reach $60,000. Rekt Capital, however, states that the cryptocurrency market leader will not be affected by such an outcome. next Two weeks.
Bitcoin is currently the most popular cryptocurrency. trades The last day saw a drop of around $62,672. The price drop highlights BTC’s poor performance over the past month, where it lost 11.16 % of its value.
Source:| Source: BTCUSD chart on Tradingview.com
Bitcoin ETFs record minor inflow; net outflows hit $217 million
The following is a list of data from SoSoValue, On April 25, the Bitcoin Spot ETF Market recorded net outflows in the amount of $217,000,000. Grayscale’s GBTC, which has seen its outflows reach $17 billion in total, accounted for $138 millions of this figure.
Notably, for the first time ever, Fidelity’s FBTC and Valkyrie’s BRRR produced net outflows estimated at $22 million and $20 million, respectively. ARK Invest’s ARKB as well Bitwise’s BITB experienced a similar loss on Thursday.
Interesting, none of the other Bitcoin Spot-ETFs saw any net flows. Franklin Tempton’s EZBC however, recorded a $1.87m net inflow. BTC ETFs are worth $128 billion at the moment of this writing.
The Economic Times chart and the featured image are from Tradingview
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